Crypto Guides, Knowledge & Insights

MacBook Users with Intel Chips Urged to Update for Enhanced Security

According to SecurityWeek, Apple has confirmed that macOS systems have been targeted by zero-day attacks and has urgently released major macOS and iOS security updates to address two widely exploited vulnerabilities. Apple stated that these vulnerabilities are being actively exploited on Intel-based macOS systems and urged users across the ecosystem to apply the updates immediately. The recommended updates include iOS 18.1.1, macOS Sequoia 15.1.1, and the older iOS 17.7.2.　　

2024-11-21Deep Dive

South Korea: Upbit Investigated for Over 500,000 KYC Violations

Upbit, the largest cryptocurrency exchange in South Korea, reportedly violated know-your-customer (KYC) rules for over 500,000 identifications, as discovered by the countrys financial watchdog during its license renewal review.　　Maeil Business Newspaper, a local newspaper, reported today that the Financial Services Commission has found that Upbit failed to properly implement KYC procedures for at least 500,000 to 600,000 cases. For example, a user account was opened with a blurred identification card, and some accounts were created without proper verification, the report said. 　　Violations of KYC rules can result in fines of up to 100 million won ($71,740), and Upbit could also encounter challenges with its license renewal.　　

2024-11-21Deep Dive

South Korea to Enforce 20% Crypto Tax in 2025 with Increased Exemption Limit

South Koreas ruling political party intends to push ahead with the plan to tax cryptocurrency gains from the beginning of 2025 instead of approving a further delay, the Seoul Shinmun reported Wednesday.　　Originally, a 20% taxation (22% with local tax) on crypto gains was scheduled to take effect on Jan. 1, 2022. The plan has been pushed back twice to Jan. 1, 2025, due to heavy backlash from investors and industry experts. 　　While there were discussions and proposals of a further delay, with one suggesting a start in 2028, the Democratic Party of Korea (DPK) is committed to implementing the tax plan on schedule, according to the local media report. 　　However, the party is making an amendment to the plan by raising the tax deductible limit from cryptocurrency gains of under 2.5 million Korean won ($1,795) to 50 million won ($35,919). 　　Given the volatile nature of the cryptocurrency market, the amended plan reportedly allows taxpayers to use a percentage of the sale price as a proxy for the original purchase price, in cases where precise acquisition records are unavailable.　　According to the report, the Democratic Party noted that raising the tax exemption limit to 50 million won would be the same as

2024-11-21Deep Dive

Beam Chain: The End of Layer 2? Exploring the So-Called “ETH 3.0” Proposal

Beam Chain is a consensus layer upgrade proposal introduced by Ethereum Foundation researcher Justin Drake at the Ethereum Devcon conference in November 2024. The proposal aims to enhance Ethereum‘s performance and security by introducing faster block times, reducing validator staking requirements, implementing on-chain SNARKs, and incorporating quantum security improvements. The plan, referred to as “ETH 3.0,” has sparked speculation about its potential to displace Layer 2 solutions. But what’s the reality？What is Beam Chain？　　Beam Chain is a proposal specifically targeting Ethereum‘s consensus layer. It includes the following technical upgrades to improve the network’s performance and security:　　1. Faster Block Times: By optimizing the consensus mechanism, the proposal shortens block generation intervals, improving transaction processing speed and user experience.　　2. Reduced Validator Staking Requirements: By lowering the threshold for validators, the proposal encourages more participants, enhances decentralization, and strengthens network security.　　3. On-Chain SNARKs: The integration of zero-knowledge proof technology (e.g., zk-SNARKs) improves transaction privacy and scalability, reduces on-chain data volume, and enhances network efficiency.　　4. Quantum Security Improvements: By adopting quantum-resistant cryptographic algorithms, the proposal aims to mitigate future quantum computing threats, ensuring long-term security.Analysis　　In the early stages of Ethereum, which relied on the Proof of Work (PoW) consensus mechanism, there was no clear

2024-11-19Deep Dive

This Week's Noteworthy Events(Nov 18, 2024–Nov 24, 2024)

Token Unlocks　　• Avalanche (AVAX): Unlocking approximately 1.67 million tokens (0.41% of circulating supply) valued at $61.3 million on November 18, 2024, at 00:00 UTC.　　• Oasis (ROSE): Unlocking approximately 176 million tokens (2.62% of circulating supply) valued at $14.6 million on November 18, 2024, at 16:00 UTC.　　• Pixels (PIXEL): Unlocking approximately 54.37 million tokens (7.05% of circulating supply) valued at $11.4 million on November 19, 2024, at 10:00 UTC.　　• Eigenlayer (EIGEN): Unlocking approximately 1.29 million tokens (0.69% of circulating supply) valued at $3.2 million on November 19, 2024, at 19:00 UTC.　　• Cardano (ADA): Unlocking approximately 18.53 million tokens (0.05% of circulating supply) valued at $13.4 million on November 20, 2024, at 00:00 UTC.　　• Ethena (ENA): Unlocking approximately 12.86 million tokens (0.45% of circulating supply) valued at $7.4 million on November 20, 2024, at 00:00 UTC.　　• SPACE ID (ID): Unlocking approximately 18.49 million tokens (4.29% of circulating supply) valued at $8.3 million on November 21, 2024, at 00:00 UTC.Magic Eden: $ME Tokenomics to Launch on November 18　　According to an official announcement from Magic Eden, the tokenomics model for its $ME token will officially be released on November 18.McDonald‘s and NFT Brand Doodles to Launch Co-Branded Coffee Cups on November 18　　Fast-food giant McDonald’s

2024-11-18Deep Dive

Thune helped cosponsor a crypto bill in 2022 called the Digital Commodities Consumer Protection Act

Sen. John Thune, who has backed crypto-related bills in the past, has been elected to serve as Senate Majority Leader next year.　　The Republican from South Dakota was picked during a closed-door process on Wednesday, according to news reports.　　“I am extremely honored to have earned the support of my colleagues to lead the Senate in the 119th Congress, and I am beyond proud of the work we have done to secure our majority and the White House,” Thune posted on X.　　Thune currently has a spot on the Senate Finance Committee, which has jurisdiction over taxes and revenue. He helped cosponsor a crypto bill in 2022 called the Digital Commodities Consumer Protection Act or DCCPA, alongside Sen. Cory Booker, D-N.J., and sponsors Sens. Debbie Stabenow, D-Mich., and John Boozman, R-Ark.　　Former FTX CEO Sam Bankman-Fried reportedly backed DCCPA. Bankman-Frieds exchange later collapsed following a liquidity crisis and fraud allegations. Later, the Senate Agriculture Committee chaired by Stabenow released a statementthat said DCCPA would have blocked FTXs wrongdoings.　　The bill aimed to establish a legal definition for digital commodities and place their trading under the jurisdiction of the Commodity Futures Trading Commission.　　“Technology continues to transform digital commodities, and its critical that the Commodity Futures Trading

2024-11-14Deep Dive

Polymarket Founder Raided by FBI After Trump Win, Company Says

Polymarket has confirmed that its CEO, Shayne Coplan, was the target of a raid conducted by law enforcement on Wednesday. During the raid, which took place in Manhattan, Coplan‘s phone and electronic devices were seized, though he was not arrested. Coplan’s team claims he is a victim of “political retaliation.”　　A spokesperson alleged that Polymarket “accurately predicted the 2024 presidential election,” as bettors on the platform correctly forecast Republican Donald Trumps victory in the White House. The spokesperson further suggested this accuracy may have led to Coplan being targeted.　　The New York Post first reported the raid, noting that FBI agents executed the operation without providing any explanation for their actions.　　“Polymarket is a fully transparent prediction market that helps people better understand the events that matter most to them,” the spokesperson said. “We charge no fees, conduct no trading, and allow observers from around the globe to analyze market data as a public resource.”　　While polls before Election Day described the U.S. presidential race as too close to call, Polymarket and other prediction markets favored the eventual winner, Donald Trump, over Vice President Kamala Harris. Following Trump‘s overwhelming victory, some in the industry lauded Polymarket’s accuracy as a “crystal ball moment,” while critics

2024-11-14Deep Dive

DeltaPrime Protocol Attacked on Arbitrum and Avalanche, Resulting in $4.8 Million Loss

According to PeckShield Alert, decentralized finance platform DeltaPrime suffered an attack on the Arbitrum and Avalanche blockchains, resulting in the loss of approximately $4.8 million in crypto assets. Reports indicate that the attacker has funneled around $1.3 million into LFJ (formerly known as Trader Joe) to provide liquidity and engaged in USDC mining on the Stargate platform.　　DeltaPrime has officially confirmed the attack on its protocol on both Avalanche and Arbitrum chains, with initial loss estimates reaching $4.75 million. The protocol has been paused on both chains to mitigate risks. DeltaPrime has advised all users to revoke permissions to active contracts to avoid further losses and emphasized that user safety remains the top priority. Further updates will be provided as soon as possible.　　

2024-11-13Deep Dive

North Korean Malware Targets macOS Users by Evading Apple Notarization

Researchers at Jamf Threat Labs, specializing in Apple security, stated that the identified applications seem to be experimental. This marks the first time this technique has been observed targeting Apple‘s macOS operating system, although it does not work on the latest macOS versions. The researchers found that Microsoft’s VirusTotal online scanning service flagged these apps as harmless, while in reality, they contain malicious code. Variants of the malware are written in Go and Python and utilize Googles Flutter application framework, an open-source toolkit for building cross-platform applications.　　Out of six malicious applications identified, five were signed with developer accounts and temporarily notarized by Apple. The researchers noted that the malware‘s domains and techniques bear strong similarities to those used in other North Korean hacker campaigns. There is evidence suggesting that this malware was signed and even temporarily passed Apple’s notarization process. However, it remains unclear whether the malware has been deployed in any actual attacks or if the attackers are preparing for a new method of distribution. It is likely that this is part of a broader weaponization test.

2024-11-13Deep Dive

Analyzing the Data: Current State of the GameFi Sector

Data Source: Footprint Analytics Games Research Page">Data Source: Footprint Analytics Games Research Page　　October saw strong performance in BTC prices, while the market capitalization of gaming tokens remained stable at $21.15 billion, consistent with the previous month. However, key user metrics in the blockchain gaming sector experienced significant changes. Notably, daily active users (DAU) hit a new peak, driven by the rise of Telegram Mini App games. BNB Chain, Polygon, and Ethereum led the market with 22.5%, 18.4%, and 13.6% shares, respectively.　　Highlights included Ubisoft‘s launch of its first blockchain game on Oasys and VanEck’s investment in Gunzilla Games, showcasing the growing interest of traditional gaming giants and major crypto funds in blockchain gaming.On-Chain Data　　By the end of October, the blockchain gaming ecosystem comprised 3,503 games, with 1,336 remaining active. Out of these, 283 games attracted over 1,000 monthly active users (MAU), representing 8.1% of total games and 21.2% of active games.　　• DAU Growth: DAU reached an all-time high of 5.3 million in October, marking an 11.3% increase from September. This growth was primarily driven by Matchains surge in user activity between October 10–13, following the launch of four games in the Telegram ecosystem. This trend reflects the growing impact of Telegram-related

2024-11-13Deep Dive

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